China’s CATL ranked first in the global electric vehicle battery market last year. Until the first half of the year, LG Energy Solutions remained in second place, but from the end of the year, demand for electric vehicles in China rebounded and rose to the top again.
However, the growth of the three domestic companies (LG Energy Solutions, Samsung SDI, and SK Innovation), which are steadily increasing their market share by maintaining the top 6 annually, was a more prominent year.
According to market research firm SNE Research on the 1st, CATL’s cumulative battery usage last year was 33.5 gigawatt hours (GWh), up 5.4% from the previous year. China’s CALB, which ranked eighth, also posted a triple-digit growth. On this day, an official of this company explained, “From last August, the cumulative battery use of CATL began to overtake LG Energy Solution again.”
As the market share of the three domestic companies increased significantly, CATL’s annual market share decreased from 27.6% to 24.0%. Despite CALB’s strong performance, the overall market share plummeted as most of the remaining companies such as CATL and BYD fell. Most Japanese companies, including third place Panasonic, also ended in reverse growth.
During the same period, all three domestic companies grew more than double digits. The total share of the three companies has more than doubled from 16.0% in 2019 to 34.8%. It is evaluated that the market position has increased as the market share has increased significantly.
LG Energy Solution’s battery usage rose more than 2.7 times to 33.5GWh, rising from 3rd to 2nd in the same period last year. Samsung SDI maintained the 5th place as of the previous year with 8.2GWh, an increase of 85.3%. SK Innovation climbed three places in the rankings, recording 7.7 GWh, which surged more than 3.4 times.
The growth of the three companies is attributable to increased sales of electric vehicle models equipped with each company’s battery. LG Energy Solutions continued its growth with strong sales of Tesla’Model 3 (made in China)’, Renault’Joe’, and Volkswagen’ID.3′. Samsung SDI showed steady growth thanks to increased sales of Audi’E-tron EV’, Ford’Kuga PHEV’, and Volkswagen’Pasat GTE’. SK Innovation saw a surge in sales of Hyundai Motors’ Kona Electric (Europe)’ and Kia’s’Niro EV’.
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Meanwhile, the total amount of electric vehicle battery energy registered in each country on an annual basis last year was 142.8 GWh, up 21.0% from the previous year. Electric vehicle demand, which had declined for the first and second consecutive quarters in the aftermath of the spread of Corona 19, rebounded as the corona recovery trend accelerated from the third quarter.
An official from SNE Research said, “Even though the new corona crisis continues around the world, the three domestic companies are steadily showing a growth trend and are making a lot of progress.” It is necessary to actively promote the improvement of the strategy and growth strategy.”